Peregrine Capital Management LLC Sells 68,204 Shares of Twist Bioscience Corporation $TWST

Key Points

• Peregrine Capital Management cut its Twist Bioscience position by 23.7% in Q1, selling 68,204 shares and ending with 220,079 shares worth about $10.46 million.
• Insider selling continued, with CFO Adam Laponis and CEO Emily M. Leproust both selling shares under pre-arranged Rule 10b5-1 plans; insiders sold 67,580 shares total last quarter.
• Analysts remain mostly bullish on TWST, with nine Buy ratings and one Sell rating, though the average target price of $79.30 is below the stock’s recent trading level near its 52-week high.

Peregrine Capital Management LLC lessened its position in shares of Twist Bioscience Corporation (NASDAQ:TWST - Free Report) by 23.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 220,079 shares of the company's stock after selling 68,204 shares during the quarter. Peregrine Capital Management LLC owned 0.36% of Twist Bioscience worth $10,458,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Quarry LP bought a new stake in shares of Twist Bioscience during the 3rd quarter valued at about $28,000. Strategic Advocates LLC lifted its stake in shares of Twist Bioscience by 562.7% in the 4th quarter. Strategic Advocates LLC now owns 1,067 shares of the company's stock worth $34,000 after purchasing an additional 906 shares during the period. SBI Securities Co. Ltd. lifted its stake in shares of Twist Bioscience by 68.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,400 shares of the company's stock worth $44,000 after purchasing an additional 571 shares during the period. National Bank of Canada FI purchased a new position in shares of Twist Bioscience in the third quarter worth approximately $46,000. Finally, Leonteq Securities AG purchased a new position in shares of Twist Bioscience in the fourth quarter worth approximately $48,000.

Insider Buying and Selling

In other news, CFO Adam Laponis sold 4,000 shares of Twist Bioscience stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $60.00, for a total value of $240,000.00. Following the completion of the transaction, the chief financial officer owned 118,694 shares in the company, valued at approximately $7,121,640. The trade was a 3.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Emily M. Leproust sold 18,880 shares of the business's stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $95.00, for a total value of $1,793,600.00. Following the transaction, the chief executive officer directly owned 824,039 shares in the company, valued at approximately $78,283,705. This represents a 2.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 67,580 shares of company stock valued at $5,169,482 in the last quarter. 3.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TWST. UBS Group set a $89.00 target price on shares of Twist Bioscience in a report on Monday, June 15th. Barclays lifted their price target on shares of Twist Bioscience from $65.00 to $95.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 24th. TD Cowen boosted their price objective on shares of Twist Bioscience from $68.00 to $89.00 and gave the company a "buy" rating in a research report on Monday, June 15th. Weiss Ratings restated a "sell (d-)" rating on shares of Twist Bioscience in a research note on Wednesday, June 24th. Finally, Leerink Partners set a $80.00 target price on Twist Bioscience in a report on Friday, May 22nd. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Twist Bioscience presently has an average rating of "Moderate Buy" and an average target price of $79.30.

Twist Bioscience Stock Performance

NASDAQ:TWST opened at $102.88 on Wednesday. The company has a market cap of $6.41 billion, a price-to-earnings ratio of -77.35 and a beta of 2.23. The stock's 50 day simple moving average is $68.71 and its two-hundred day simple moving average is $52.54. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.70 and a quick ratio of 2.42. Twist Bioscience Corporation has a 1 year low of $23.30 and a 1 year high of $104.23.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.22). Twist Bioscience had a negative net margin of 19.85% and a negative return on equity of 26.73%. The business had revenue of $110.72 million for the quarter, compared to the consensus estimate of $107.64 million. During the same quarter last year, the business earned ($0.66) EPS. Twist Bioscience's revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, equities analysts anticipate that Twist Bioscience Corporation will post -2.02 earnings per share for the current fiscal year.

About Twist Bioscience

Twist Bioscience Corporation is a synthetic biology company specializing in the development and commercialization of DNA-based products and solutions. Founded in 2013 and headquartered in South San Francisco, California, the company has pioneered a proprietary silicon-based DNA synthesis platform designed for high-throughput production of synthetic genes and oligonucleotides. Twist leverages semiconductor manufacturing techniques to enable precise, scalable synthesis of DNA at speeds and volumes unattainable with traditional methods.

At the core of Twist's offering is its proprietary platform that automates the synthesis of custom DNA fragments, gene libraries, and long oligonucleotides.

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